French Wedding Dress Pronuptia Bankruptcy, People Choose More Chinese Wedding Dress

More than half a century ago, the wedding dress brand Pronuptia, the French wedding dress industry, declared bankruptcy and permanently shut down all stores because it could not repay 9 million euros in debt.

As a matter of fact, as early as last September, Lawal's commercial tribunal launched a bankruptcy liquidation procedure for Pronuptia. Pronuptia is not the first time to face such a dilemma. In 2008, as the management of the company was eager to expand overseas markets, and in the United Kingdom, Portugal, Egypt, Chile and many other countries, leading to a serious shortage of capital chain, the court had to start the reorganization process, and the French wedding group Nuptialliance took over all Pronuptia's businesses.

But it didn't last long. In 2012, Pronuptia, who had 41 stores at that time, had to start the reorganization process again. In response to the debt crisis, the company launched a continuing business plan in 2013, saying it would pay its debts in 10 years. By September last year, the company still had 9 million euros in debt outstanding. It is understood that in the first quarter of last year, due to the rise of the French "yellow vest campaign" and other factors, the domestic marriage rate in France has reached the lowest level in history. Pronuptia's business has been greatly affected, coupled with the fluctuation of the US dollar exchange rate and the impact of other online competitors. This is even worse for Pronuptia.

In an interview with Agence France-Presse, the French wedding dress brand Cymbeline general manager Jean-Philippe Lautraite Pronuptia Regret for bankruptcy: "the prospect of the wedding market is very uncertain now. The population of Europe is decreasing, the aging of the population is increasing, and few young people are willing to get married, and more and more people prefer to choose the wedding dress from China (about 90% of the total consumption)." Data show that in 2019, France had only 227 thousand weddings, down 25% from 2000 (305 thousand games).

About Pronuptia

Pronuptia was founded in 1958, and its founder Marie et Henri Micmacher became famous for its exquisite handmade wedding dress technology. In the same year, Pronuptia launched the first wedding product and opened its first store in Paris. Since its inception, Pronuptia has been committed to inject romantic and elegant elements into wedding dress design, and is quickly sought after by consumers. In 1978, Pronuptia launched the first launch of the tuxedo, when the 5600 couples chose this dress at the wedding.